First Solar, Inc. (FSLR)

First Solar Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	1,665	1,528	1,292	830.78	-44.17	468.69
Depreciation & Amortization	551.77	529.22	423.5	307.99	269.72	259.9
Stock-Based Compensation	23.42	19.22	28.1	34.22	28.66	20.9
Other Adjustments	61.2	69.84	-42.53	-44.07	-379.48	-175.23
Change in Receivables	251.69	30.62	-505.34	-304.18	118.72	-96.95
Changes in Inventories	436.68	377.72	-276.81	-205.11	16.69	-136.37
Changes in Accounts Payable	-60.89	4.68	268.73	79.33	5.57	48.97
Changes in Income Taxes Payable	3.61	-31.81	47.42	8.66	43.59	-13.06
Changes in Unearned Revenue	-136.88	-189.92	0.7	783.21	912.95	47.06
Changes in Other Operating Activities	-344.66	-280.69	-17.83	-888.57	-98.89	-186.36
Operating Cash Flow	2,450	2,057	1,218	602.26	873.37	237.56
Operating Cash Flow Growth	615.82%	68.89%	102.24%	-31.04%	267.64%	539.98%
Capital Expenditures	-782.44	-869.88	-1,526	-1,387	-903.61	-540.29
Purchases of Investments	-1,610	-1,540	-2,516	-3,613	-3,375	-2,147
Proceeds from Sale of Investments	1,595	1,654	2,492	4,564	2,647	2,295
Payments for Business Acquisitions	-	-	-	-35.74	-	-
Proceeds from Business Divestments	-	-	-	7.68	442.3	300.5
Other Investing Activities	-28.05	-8.39	-12.99	-9.05	-3.05	-6.71
Investing Cash Flow	-825.49	-765.17	-1,563	-472.79	-1,193	-99.04
Long-Term Debt Issued	629.06	857.79	258.46	367.98	397.38	129.22
Long-Term Debt Repaid	-618.37	-960.69	-205.82	-	-75.9	-72.68
Net Long-Term Debt Issued (Repaid)	10.69	-102.89	52.64	367.98	321.48	56.54
Repurchase of Common Stock	-0.28	-15.53	-20.18	-31.13	-12.09	-15.99
Net Common Stock Issued (Repurchased)	-0.28	-15.53	-20.18	-31.13	-12.09	-15.99
Other Financing Activities	-1.06	-0.81	-7.61	-	-	-
Financing Cash Flow	-91.83	-119.23	24.85	336.85	309.39	40.55
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-0.55	3.1	-6.39	5.29	47.44	3.17
Net Cash Flow	1,532	1,176	-326.85	471.61	37.63	182.24
Free Cash Flow	1,668	1,187	-308.08	-784.52	-30.24	-302.73
Free Cash Flow Growth	40.48%	-	-	-	-	-
FCF Margin	30.78%	22.75%	-7.32%	-23.64%	-1.15%	-10.36%
Free Cash Flow Per Share	15.50	11.04	-2.87	-7.31	-0.28	-2.83
Levered Free Cash Flow	1,343	964.65	264.32	-102.5	523.35	5.09
Unlevered Free Cash Flow	1,335	1,083	200.73	-502.2	385.94	-39.5

Updated Apr 30, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q